Author Archives: Darrell Proctor

Regulators Back Dominion Takeover of SCANA

Dominion Energy’s bid to purchase SCANA Corp. and its South Carolina Electric & Gas (SCE&G) utility, approved by South Carolina regulators on Dec. 14, could bring some stability to SCANA. Shareholders hope that’s the case; they’re excited about swapping their devalued SCANA shares for more valuable Dominion stock. Workers, though, remain uncertain about their futures, […]

Hitachi Acquires ABB Power Grids Business in $11 Billion Deal

Hitachi Ltd. and ABB on December 17 announced that Hitachi will acquire 80.1% of ABB’s Power Grids unit in an $11 billion deal. Reports of the possible acquisition surfaced December 16, with several media outlets including POWER  discussing the agreement, citing sources familiar with the deal who asked not to be identified. Hitachi plans to […]

ABB Nears Sale of Power Grids Division to Hitachi in $11 Billion Deal

Hitachi Ltd. and ABB could announce an $11 billion deal as soon as December 17 in which Hitachi will acquire 80% of ABB’s power grids unit. Reports of the possible deal surfaced December 16, with Bloomberg and others citing sources familiar with the agreement who asked not to be identified. Neither ABB nor Hitachi commented […]

Siemens Cutting 200 Jobs at Texas Service Center

Siemens on December 11 said it would lay off about 200 workers at a gas turbines parts and components service center in Houston, Texas, sometime in late 2019 or early 2020. A company spokesperson made the announcement Tuesday, saying the cuts are due to weak global demand for the company’s turbines. Siemens in a statement […]

Blockchain-Enabled VPP Planned for South Korea

The South Korean government has pledged 4 billion Korean won (about $3.5 million) to support a blockchain-enabled virtual power plant (VPP) in Busan, the country’s second-most-populous city after Seoul. Busan officials said they have selected a project to build a VPP on a “citizens-shared” blockchain. Technology Aggregates Resources, Standardizes Transactions A VPP is a cloud-based […]

FERC Follows Up on Tax Reform Response

The Federal Energy Regulatory Commission (FERC, the Commission) took several actions in November to address impacts from the Tax Cuts and Jobs Act (the Tax Act). FERC had previously issued a Notice of Inquiry seeking comments on how to address the impact of the Tax Act’s reduction in the corporate federal income tax (FIT) rate […]

Senate Confirms McNamee as FERC Commissioner

The U.S. Senate on a 50-49 party-line vote December 6 confirmed Bernard McNamee to a seat on the five-member Federal Energy and Regulatory Commission (FERC), despite questions about his independence from the Trump administration and his previous comments in support of a bailout of coal and nuclear U.S. power plants at the expense of renewable […]

Xcel’s Latest Plan: Carbon-Free by 2050

Xcel Energy has announced its plan to move to 100% carbon-free power generation by 2050, with the utility also saying it will reduce carbon emissions by 80% by 2030, from 2005 levels. Xcel, headquartered in Minneapolis, Minnesota, serves customers in eight states and over the past two years has announced a significant number of renewable […]

Developer Sues TVA Over Cancellation of Bellefonte Deal

The real estate developer who has tried for more than two years to buy the assets of the canceled Bellefonte nuclear power plant project in Alabama has sued the Tennessee Valley Authority (TVA) after TVA last week pulled out of the deal to sell the plant. Attorneys for Franklin Haney, whose Nuclear Development LLC (NDLLC) […]

Contamination Found in Water Near Illinois Coal Ash Dumps

Analysis based on testing mostly conducted by energy companies shows that water near all but two coal plants in Illinois is contaminated with toxic waste. The Chicago Tribune on November 28 reported that a compilation of industry-supplied data from 24 Illinois coal plants shows harmful levels of arsenic, chromium, lead, and other heavy metals in […]